Singapore – Jaren Loy, currently the head of digital growth (grocery) at FairPrice Group, has announced that he will be undertaking new duties in his current role at the company, more specifically focusing on the company’s retail media strategies.
In an exclusive conversation with MARKETECH APAC, Loy noted that he will take charge of spearheading strategic initiatives for FairPrice Group aimed at enhancing the efficacy and reach of their retail media endeavours.
“This will encompass orchestrating the implementation of data-driven advertising strategies, cultivating synergistic partnerships with key stakeholders, overseeing the optimization of advertising channels, and fostering innovation to stay ahead of industry trends,” he explained.
When asked about the specific strategies he will focus on, Loy said he is particularly eager to prioritize the development of innovative advertising solutions that capitalize on FairPrice Group’s extensive first-party data assets.
“By leveraging this data, advertisers can create highly personalized and relevant campaigns that resonate with our customers,” he added.
Prior to leading FairPrice Group’s digital growth for its grocery division, he also lead the company’s omnichannel and O2O marketing strategies. It is worth noting that during his time as lead of omnichannel marketing at the company when FairPrice Group announced a partnership with The Trade Desk to provide brands on The Trade Desk’s platform with insights on the impact of their digital advertising campaigns across offline and online sales channels.
“Drawing from my experience in growth and omnichannel roles at FairPrice Group, I intend to bring a strategic focus on maximizing the value of our first-party data in the new advertising landscape. This includes identifying key customer segments, refining targeting algorithms, and optimizing ad placements to deliver maximum impact for advertisers,” Loy said when asked on his reflections from his previous positions at FairPrice Group.
When asked about current challenges on the retail media landscape, he said, “I think one of the main challenges and opportunities for marketers lies in adapting to a cookie-less environment. By leveraging FairPrice Group’s robust first-party data ecosystem, advertisers can overcome this challenge by directly targeting relevant audiences based on real-time insights and behavioral patterns.”
He also added that with the industry’s current movement towards first-party data, he adds that as an industry leader, FairPrice Group is committed to staying ahead of the curve in the evolving retail media landscape.
“In 2024 and beyond, we anticipate a shift towards more privacy-centric advertising solutions, which aligns with our focus on safeguarding customer data and delivering a seamless, personalized shopping experience. Through strategic investments in data analytics, technology infrastructure, and partnership development, FairPrice Group aims to empower advertisers to thrive in this new era of digital marketing,” he concluded.
